The Norwegian sovereign wealth fund (SWF) is likely to take 4-8 years to make its real estate portfolio reach its target, Reuters reports. The portfolio has a 5% target of overall investments, or about $26 billion based on the fund’s current size.

The $500 billion plus SWF is looking to invest in commercial property with values in excess of $500 million per transaction, starting in London and Paris. The fund will not get involved in day-to-day management of the properties, said Karsten Kallevig, the fund’s head of real estate.

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